Egypt's Minister of Planning, Economic Development and International Cooperation Rania Al Mashat on Wednesday met with Singapore's Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong in Paris, to discuss ways to strengthen economic and trade cooperation between the two countries. The meeting took place on the sidelines of the OECD Ministerial Council Meeting. Discussions focused on Egypt's progress in creating a stronger legislative and regulatory framework to expand green financing tools for the private sector. Al-Mashat noted that Egypt's private sector secured more concessional development financing than the government in the past year. She highlighted Egypt's commitment to transitioning towards green economy, making use of its natural resources to boost renewable energy capacity and engage in low-carbon hydrogen production initiatives. The minister also pointed to Egypt's substantial investments in recent years in transport, logistics, and port infrastructure as part of broader economic and structural reforms that have enhanced the economy's resilience. These efforts have shifted the structure of GDP growth towards non-oil manufacturing, transport, and storage sectors. In the first half of the current fiscal year, private investment accounted for over 50 per cent of total investments, she added. Al-Mashat encouraged greater Singaporean investment in Egypt, especially in manufacturing, agriculture, and technology. She noted that Singaporean investments in Egypt are currently concentrated in five key sectors: agriculture, logistics, food industries, information technology, and plastic manufacturing. Egypt, she said, is committed to fostering a more attractive environment for foreign investment and aims to boost growth by attracting more Singaporean capital, particularly in priority sectors like industry and agriculture. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
